Boise Cascade (NYSE:BCC) Director Sells $163,239.40 in Stock

Boise Cascade, L.L.C. (NYSE:BCC) Director Kristopher Matula sold 1,930 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $163,239.40. Following the sale, the director owned 13,982 shares of the company’s stock, valued at $1,182,597.56. This represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Boise Cascade Stock Up 2.9%

Shares of NYSE BCC opened at $86.74 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.37 and a current ratio of 2.71. Boise Cascade, L.L.C. has a 1 year low of $65.00 and a 1 year high of $91.97. The stock’s 50-day simple moving average is $75.35 and its 200-day simple moving average is $76.98. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 1.17 and a beta of 1.10.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.40. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.Boise Cascade’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.64 earnings per share. As a group, equities analysts anticipate that Boise Cascade, L.L.C. will post 3.86 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.22. Boise Cascade’s dividend payout ratio is currently 29.83%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Cerity Partners LLC increased its holdings in shares of Boise Cascade by 3.8% in the 2nd quarter. Cerity Partners LLC now owns 3,274 shares of the construction company’s stock valued at $284,000 after acquiring an additional 121 shares during the last quarter. Raymond James Financial Inc. lifted its stake in Boise Cascade by 1.0% during the second quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company’s stock worth $1,148,000 after purchasing an additional 126 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Boise Cascade by 0.8% during the fourth quarter. State of Alaska Department of Revenue now owns 21,171 shares of the construction company’s stock worth $1,558,000 after purchasing an additional 164 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Boise Cascade by 77.5% in the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock worth $30,000 after purchasing an additional 179 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in Boise Cascade by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 7,329 shares of the construction company’s stock worth $539,000 after purchasing an additional 226 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BCC shares. Bank of America increased their target price on Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a research note on Tuesday, July 14th. DA Davidson upped their price target on shares of Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial set a $97.00 price objective on shares of Boise Cascade in a research note on Wednesday, May 6th. The Goldman Sachs Group raised their price objective on shares of Boise Cascade from $81.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Wall Street Zen raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Boise Cascade currently has an average rating of “Hold” and a consensus price target of $93.60.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.